Met my proprietary selection criteria.

Met my proprietary selection criteria.

Cognos (COGN) was downgraded by Wedbush Morgan from buy to hold.

Figured they were a long-term play. Early employer of mine

Cognos - COGN-NNM
Market Perform - Price 57.24 on Nov. 13
by JMP Securities


Downgrading from Strong Buy to Market Perform: Cognos [agreed to be] acquired by IBM for 58 a share, a 9% premium to Nov. 9 closing price, a $5.2 billion market cap, and a $4.8 billion enterprise value. We think IBM is paying a solid multiple for Cognos...the acquisition represents 4.1 times EV/08 revenue versus 3.1 times multiple SAP [paid] for Business Objects at announcement.

Morgan Stanley downgrades Cognos (COGN) from overweight to equalweight but raises its price target from $50 to $58 to reflect the IBM buyout offer.

Cognos (COGN) was downgraded from Outperform to Sector Perform, CIBC said. $54 price target. Rising Canadian dollar is weighing on the company's earnings, and is already pricing in any neat-term takeover premium.

Cognos (COGN) was downgraded to Neutral rating from Buy at UBS. However, price target lifts at $55 from $50 while FY 2008 eps estimates hold at $1.78.

Cognos (COGN) was downgraded from Outperform to Neutral, Robert Baird said. Valuation call, as the stock has rallied following the BOBJ takeover. $50 price target.

Cognos (COGN) was downgraded to Hold rating from Buy at Jefferies. FY 2008 eps estimates and price target hold at $2.04 and $48.

And Goldman Sachs said it is downgrading COGN to Neutral from Buy based on valuation. See continuing acquisition bids in BI sector on the heels of SAP's bid for BOBJ. Price target moves to $54 from $48 due to higher comps in sector.

Lousy Product